Islamic Option Is a Contract of Promise to Buy or Sell

question 26

True/False

Islamic option is a contract of promise to buy or sell an asset at a predetermined price within a stipulated period of time.

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Definitions:

Basaltic Lava

A type of lava that is low in silica and has a low viscosity, resulting in smooth flows; it originates from the rapid cooling of basaltic magma.

Felsic Lava

Lava that is high in silica content, typically resulting in lighter colored rocks, such as rhyolite, and is more viscous compared to mafic lava.

Vesicular Lava

Lava characterized by a rough, bubbly texture due to the escape of gases during solidification.

Scoria Cones

Volcanic cones made up of loose, dark-colored volcanic fragments called scoria, typically formed around vents of basaltic lava.